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Countertrade Transactions: Theory and Evidence

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  • Caves, Richard E
  • Marin, Dalia

Abstract

Countertrade transactions may cover 20 percent of international trade yet are little researched. Testing several coherent models on 230 transactions (mainly East-West), the authors find (1) strong evidence that they effect price discrimination for Western exporters; (2) no support for a model resting on sticky disequilibrium prices; (3) limited support for a model of efficient revelation of unestablished qualities of countertraded goods; (4) evidence of bargaining power's effect on outcomes in the bargaining range; and (5) evidence that participants engage in repeated countertrade transactions that do not rest on transitory conditions. Copyright 1992 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 102 (1992)
Issue (Month): 414 (September)
Pages: 1171-83

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Handle: RePEc:ecj:econjl:v:102:y:1992:i:414:p:1171-83

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References

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  1. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
  2. Caves, Richard E. & Marin, Dalia, 1992. "Countertrade Transactions: Theory and Evidence," Munich Reprints in Economics 3111, University of Munich, Department of Economics.
  3. Marin, Dalia & Schnitzer, Monika, 1994. "Tying Trade Flows: A Theory of Countertrade," CEPR Discussion Papers 946, C.E.P.R. Discussion Papers.
  4. Marin, Dalia, 1990. "Tying in International Trade," Munich Reprints in Economics 3114, University of Munich, Department of Economics.
  5. Bruce Kogut, 1986. "On Designing Contracts to Guarantee Enforceability: Theory and Evidence from East-West Trade," Journal of International Business Studies, Palgrave Macmillan, vol. 17(1), pages 47-61, March.
  6. Amann, Erwin & Marin, Dalia, 1990. "Long Term Contracts in International Trade," CEPR Discussion Papers 413, C.E.P.R. Discussion Papers.
  7. Marin, Dalia, 1991. "Monopoly, Tying and Reciprocity: An Application to International Trade," CEPR Discussion Papers 609, C.E.P.R. Discussion Papers.
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Citations

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Cited by:
  1. Marin, Dalia & Schnitzer, Monika, 1997. "The Economic Institution of International Barter," CEPR Discussion Papers 1658, C.E.P.R. Discussion Papers.
  2. Choi, C. J. & Dassiou, X. & Maldoom, D., 2003. "Trade and Linked Exchange; Price Discrimination Through Transaction Bundling," Working Papers 03/07, Department of Economics, City University London.
  3. Caves, Richard E. & Marin, Dalia, 1992. "Countertrade Transactions: Theory and Evidence," Munich Reprints in Economics 3111, University of Munich, Department of Economics.
  4. Ellingsen, Tore, 1998. "Payments in Kind," Working Paper Series in Economics and Finance 244, Stockholm School of Economics, revised 10 Feb 2000.
  5. Sergei Guriev & Dmitry Kvassov, 2000. "Barter for price discrimination? A theory and evidence from Russia," Working Papers w0007, Center for Economic and Financial Research (CEFIR).
  6. Sergei Guriev & Dmitry Kvassov, 2000. "Price Discrimination Through Barter: A Theory and Evidence from Russia," Econometric Society World Congress 2000 Contributed Papers 0397, Econometric Society.
  7. Guriev, Sergei & Kvassov, Dmitry, 2000. "Barter For Price Discrimination?," CEPR Discussion Papers 2449, C.E.P.R. Discussion Papers.
  8. Amann, Erwin & Marin, Dalia, 1994. "Risk-Sharing in International Trade," Munich Reprints in Economics 3110, University of Munich, Department of Economics.
  9. Marshall, John F. & Wynne, Kevin J., 1996. "Synthetic barter: Simulating countertrade solutions with swaps," Global Finance Journal, Elsevier, vol. 7(1), pages 1-12.
  10. Ellingsen, Tore & Stole, Lars A., 1996. "Mandated countertrade as a strategic commitment," Journal of International Economics, Elsevier, vol. 40(1-2), pages 67-84, February.

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